Your Closing Costs
"Closing Costs" are the fees which cover the various services involved in the sale of a home. Buyers and sellers often negotiate the payment of these closing costs.
As indicated below, many of the buyer's costs are related to the costs of getting the loan. At Longhorn Mortgage, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Very soon after you apply for a loan, we will give you the "Good Faith Estimate" of your costs. The cost estimate is based on our past experience. It's important to note that while our GFEs are very precise, we cannot always estimate your closing costs to the penny. We review Good Faith Estimates with buyers every day, so we will be happy to answer your questions about closing costs.
Below you'll find a general list of costs for buying a home. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
- Various Taxes
- Costs related to "originating" your loan
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
- Transfer Taxes & Recording Fees
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Longhorn Mortgage can help you understand closing costs. Call us at 512-302-9410.
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